Title

Banks & the Black Community: What Can Major Commercial and Retail Banking Institutions Do to Better Support Black Entrepreneurs and Businesses in the U.S.?

Document Type

Report

Publication Date

1-1-2020

Publication Title

Center for Policy Analysis and Research

First page number:

1

Last page number:

23

Abstract

Across all indicators, black business ownership is on a consistent upward trajectory, but progress has been slow. Data reveal that black owned business are significantly underrepresented. More importantly, when looking at empirical measures of parity, it is evidence that the total number of black firms has lagged significantly behind relative population growth. Evaluating group parity relative to small business share is important because it is an easily measureable and trackable benchmark. Assessments of group parity have typically been used to denote aspirational outcomes. Universities, corporations, and even entire industries evaluate their diversity and inclusion initiatives along the standards of parity, and whether a group's representation within that space is equivalent to their representation in the larger population. In this case, African Americans would have small business parity if their proportion of small businesses in the U.S. approximated their proportion of the adult population in the U.S. However, that is not the case.

Keywords

Black entrepreneurs; Black business ownership; Bank support

Disciplines

Business | Entrepreneurial and Small Business Operations | Race and Ethnicity | Social and Behavioral Sciences | Sociology

Language

English


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